SKL Skale

Use Cases of Skale

Skale is designed to support a wide range of applications, including:

• Gaming: Skale provides a high-throughput, low-latency environment ideal for gaming applications, allowing for seamless user experiences without gas fees.
• AI Applications: Skale's scalable architecture supports AI-driven smart contracts and applications, enabling efficient and cost-effective deployment.
• DeFi: Skale offers a scalable and secure platform for decentralized finance applications, reducing transaction costs and improving performance.
• NFTs: Skale's zero-gas fee model and high throughput make it suitable for NFT platforms, enhancing user experience and reducing operational costs.
• dE-commerce: Skale enables the creation of decentralized e-commerce applications with high performance and low latency, making it an attractive option for dE-commerce platforms.
• DAOs: Skale supports decentralized autonomous organizations (DAOs) by providing a scalable and secure environment for governance and decision-making processes.
• Real-World Assets (RWA) and Decentralized Physical Infrastructure (DePIN) Networks: Skale's customizable architecture allows for the creation of complex tokenization solutions for RWA and DePIN applications, leveraging its zero-gas fee model for efficient operations.

Pros of Skale

• High Scalability: Skale offers nearly unlimited capacity, making it suitable for high-demand applications. It can process between 400 to 700 transactions per second, significantly outperforming other blockchain networks.
• Zero-Gas Transactions: Skale operates on a subscription model where developers prepay gas fees, resulting in zero gas costs for end-users. This enhances the user experience and encourages more frequent micro-transactions.
• Elastic Sidechains: Skale's modular architecture allows for the creation of numerous independent blockchains, each customized to meet the needs of specific applications. This flexibility prevents congestion and allows for chain parameter customization.
• Interoperability: Skale chains are compatible and interoperable with Ethereum, enabling seamless communication and data transfer between different blockchain networks.
• Efficient Resource Allocation: Skale's innovative mechanism allocates resources between nodes efficiently, making it eco-friendly and convenient for developers.

Cons of Skale

• Network Security Risks: The network security could be at risk if the number of validators isn’t large enough. This could potentially compromise the network's integrity.
• Limited Validator Registration: Currently, Skale does not accept new validators, which could limit the network's growth and decentralization.

Founders of Skale

The founders of Skale include:

• Stan Kladko, Ph.D.: With a background at Stanford University, Los Alamos National Lab, and as an early Java team member at Sun Microsystems. He is also the founder of Cloudessa, which was funded and acquired by Global Reach.
• Jack O'Holleran: CEO and co-founder of Skale Labs, with previous experience as the founder of Aktana and working at Good Technology and Motorola.

Investors in Skale

Skale has received funding from various investors across different rounds. Here are some of the key investors:

• Venture Capital Firms:

  • Multicoin Capital
  • HashKey Capital
  • Galaxy
  • ConsenSys
  • Hashed Fund
  • Arrington XRP Capital
  • Boost VC
  • Hack VC
  • Blockchange Ventures
  • Winklevoss Capital

• Funding Rounds:

  • Seed Round: $2.38M at $0.0034 per token
  • Private Round: $8.8M at $0.0125 per token
  • Venture Round: $5.78M at $0.0152 per token
  • Public Round: $5.25M at $0.03 per token

• Total Funding: Skale has raised a total of approximately $17.1M to $49.50M across different funding rounds, with variations in reported totals depending on the source.

Halal Status of Skale

• Halal Status: Yes
• Reason: Skale is considered halal because it is an open-source, decentralized network with a "special" architecture that can scale Web3 applications. It does not contain elements of Riba, Gharar, or Maisir, which are prohibited under Shariah law.

Key Points:

• Legitimacy: Skale has a legitimate underlying value, with a founding team experienced in information security and blockchain technology.
• Financial Screening: Skale is not backed by any equity, so it does not require financial screening for debt-to-income ratios.
• Staking: The staking mechanism in Skale is halal as it does not involve prohibited elements.
• Community Views: Various Islamic finance platforms and communities have assessed Skale and consider it halal.